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Treating your budget like a goal

• What’s the difference between a wish and a goal?
• Measure your budget to ensure you are on track.
• Set small goals for individuals in the shop to ensure your budget is met, measure and share so that the goal is clear.

Measure and track each day.

As business coaching company for auto repair shop owners, one crucial aspect we’ve seen shops neglect is measuring processes. Precision helps shop owners find issues, reduce costs, and improve efficiency. This article stresses computing auto repair processes, so let’s dive in!

Introduction: Insights Into Efficiency

Running an auto repair shop comes with its own set of challenges. From handling customer expectations to making complex repairs, there is a lot on a shop owner’s plate. However, many shop owners don’t realize the power of gauging the steps taken for each repair. You can gain valuable insights into your operations and make data-driven choices by tracking and analyzing key metrics.

Importance of Measuring Auto Repair Processes

Identifying Inefficiencies

Measuring auto repair processes shines a light on shortfalls that cost your shop both time and money. Pinpoint areas of improvement by tracking metrics such as cycle time and first-time fix rate. Do certain repair jobs always take longer than expected? That may indicate a need for either more training or better workflow.

Reducing Cost

Cost control is a top priority for any business owner. Auto repair shops are no exception. Measuring your repair processes helps identify ways to save money. Analyze metrics like technician yield and parts usage. Those could uncover expenses to reduce, all without losing quality. This can then lead to big savings over time.

Improving Efficiency

Efficiency is vital to running a successful auto repair shop. Measuring each process helps you identify holdups and simplify operations. By tracking metrics related to workflow and resource usage, you can adjust them in order to optimize efficiency. This leads to both faster turnaround times, and increased customer satisfaction. Not to mention higher profits!

Implementing a Measurement System to Increase Efficiency

Installing a measurement system for your auto repair processes requires careful planning and execution. Follow the steps below:

Define Your Goals

Start by clearly stating your goals. What specific outcomes do you want to achieve? Examples could include reducing cycle time by 20%, or increasing the first-time fix rate to 90%. Define clear goals in order to guide your measurement efforts.

Select Appropriate Metrics

Choose metrics that both align with your goals and provide the right insights. Consider critical metrics like cycle time, first time fix rate, technician output, and customer satisfaction. Tailor the metrics to your shop’s unique needs and goals.

Collecting and Analyzing Data

Establish a way to collect and analyze your chosen metrics’ data. You may need to use niche software or manual tracking methods. Ensure that the data collection process is accurate and consistent, as well as reliable.

Taking Action

Collecting data is only valuable if you take action. Regularly review the data and note your problem areas. Work with your team to write action plans and make changes, in order to address shortfalls and improve every aspect of your business.

Benefits of Measuring Auto Repair Processes

The perks of gauging your auto repair processes are numerous. Here are some rewards you can expect:

Identifying What’s Blocking Your Efficiency

When you measure your repair actions, you can identify bottlenecks that hinder workflow. Does a specific repair task take too long? Do you have too few resources? Then address these shortfalls for the highest efficiency.

Streamlining Operations

Measure your auto repair approaches in order to streamline tasks. This eliminates steps that are both needless and redundant. Optimizing workflow, resources, and communication improves your overall efficiency. This will reduce both errors and delays.

Enhancing Customer Experience

A precise, efficient repair process creates a better customer experience. Exceed customer trust and foster loyalty by reducing repair times, increasing first-time fix rates, and delivering exceptional service. Satisfied customers are more likely to both return and recommend your shop to others.

Conclusion: Measuring Processes For Efficiency

Measuring your auto repair processes can both reduce costs and improves efficiency. When you track key metrics, find problem areas, and make data driven changes, you can streamline tasks and provide a better customer service. Don’t count out the impact measurement can have on success.

You Net Results

Contact You Net Results today to begin the process. Book a complimentary consultation. Brian Gillis and our team will help you start your leadership foundation. Our vast network of auto repair shops works together to build up the industry. Let’s make August the best month of your business life!

Auto Repair Shop Money Management might be an uncomfortable topic, but we need to cover it! Gary Gunn quizzes our YNR panel of automotive shop owners on how they can better manage their finances.

Defining Money – Repair Shop Money Management

Gary starts off with an unusual question for our panel of shop owners. “How do you define money?” It may seem silly to ask a question like this. However, when we get to the root of what money really is, we can take a deeper dive into repair shop money management.

When Pam replies, she defines money as an item we exchange in lieu of barter. We have assigned a value to it, so it drives commodities in our markets.

Fred measures money in time. Customers pay us for our employees’ time when they perform automotive repair services. We then pay those employees for their time. Finally, we pay ourselves for the time we put in guiding our team and steering the ship.

Joe adds that the government assigns money a value based on the gold that backs it. We can then exchange that valuable paper for a good or service. Jerry then uses the analogy of money as a fuel for an engine. That engine exists to move our business or personal life forward. Money management is how we fine tune that engine.

Gary’s Response

Gary makes the point that we can run out of the “gas” that is money and end up stuck on the proverbial freeway. Sometimes our business’s cash on hand can ebb and flow. However, our repair shop money management skills will determine will determine if we reach our long term destination.

Learn More – Get Your FREE Strategy Session

Do lack direction on repair shop money management? Perhaps your business plan has stalled out, and you need an experienced automotive industry coach to help you. Then why not schedule a FREE business strategy session with Brian? You’ve got nothing to lose, so sign up today!

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

Today’s Think Tank Questions & POV Discussion

• What are your BIGGEST Financial Challenges right NOW?
• Mastering Your Results Financial Content Review
• Online Library Financial Review
• Financial $avvy Language Review
• Anchor Report comparing YTD July 2022 to Dec.Year End 2015 and 2008
• By using Sawtooth Page 10 and Page 6
• Budget Spreadsheet Review of tab to create TCODB
• Challenge for next time was to calculate your TCODB using the tab

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Old Sayings; New Beginnings

We’ve all heard the old adage, “you can’t change what you don’t measure.” Ok, that much is relatively obvious. But where do you start? What do you measure, and how do you measure it? Who do you ask for help? Those are the real questions that we want to address when we talk about a KPI!

Asking the right questions in the right way is the key. We are identifying what the underlying items are, which move that vehicle towards the finish line. We all have “distal” goals (long distance goals we want to reach in the future), but we can’t reach them without first setting “proximal goals” (small, easily attainable goals which stack to build a foundation).

What are KPIs?

“KPI” stands for “Key Performance Indicator.” Your KPIs are the steps you list out that you have to meet in order to reach a greater goal. Consider your KPIs your proximal goals, and “double my revenue this year” your distal goal (ultimate future goal).

Identifying the right KPIs can help you break down a monumental task into tiny little bite-sized pieces which you can then easily take action on.

Let’s use “Getting Buff” as a fun example!

Let’s build some KPI for your Auto Repair Shop

So, you want to get ripped, shredded, built, and buff for the summer season?! Ok, easier said than done; that’s the definition of a distal goal, right there! Here is what we really need to do. We need a list of KPIs; smaller proximal goals we can use to get us there!

KPIs for the summer season:

• Establish a budget for a gym membership
• Identify five gyms I like
• Call all five gyms and get price quotes
• Select my preferred gym and sign up for a monthly membership
• Set aside time to go to the gym
• Research workout routines
• Spend my first day in the gym

Now, this is a silly example, of course. But do you see how we broke the bigger goal into tiny little victories that we can check off? Doing this allows us to measure our progress towards our bigger goal. After that, we can produce easily digestible data.

We have seven KPIs listed. If we complete the first three, we can tell our significant others that we are 42% of the way there. So, it works the same for your auto repair business. If you have a goal to “double my revenue this year,” what are the exact steps you need to take to start moving the needle?

KPI and Business Coaching with You Net Results

Building KPIs can be daunting, and we understand that the process can be frustrating. How to start, where to start, and why to start? These are all great questions!

That is where we come in at You Net Results! We make that process easier than you ever imagined. We will help you navigate the complicated world of KPIs in order to get you to your next revenue goals.

Please contact You Net Results today for a complimentary consultation. Brian Gillis and our team will help you build your KPIs, and plug you into a vast network of auto repair shops. We work together so we can make the auto repair shop industry stronger! Let’s make June the best month of your business life!

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

0407-7-SOP-Credit Card Fees Profit Eater

Mike Meer, Shop Owner of Supreme Auto Care, shares what he has discovered
about Credit Card Fees.

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SOP Formation and Review

Mastering Your Results Review

• Fuel Maximizer Service Creation
• ScoreCard Review
• Introducing the Financial Recipe Spreadsheet
• E-Myth FN-0060 Review
• TCODB using Dec 2021 Anchor Report discussion

Description

• FOR Daily Operation Library
• SOP Fuel Maximizer Service #0541
• Fuel Maximizer Service Opportunity, when fuel prices are higher than normal – so we can help our customers achieve the best fuel efficiency by offering service that can make a difference and save them $

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SOP Formation and Review

WOIT Discussion and Notes Formation and Review

• State of the Shop delivered by each attendee
• Budget for Profit Spreadsheet Tabs Review
• November 2020 versus 2021 page 10 review
• November 2020 versus 2021 page 6 review

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Powerpoint PDF